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Moscow court places senior Russian banker under house arrest

He is suspected of embezzling $14 million

MOSCOW, March 5 (Itar-Tass) — Moscow City’s Tverskoi district court placed Anatoly Ballo, the Deputy CEO of the Russian development and foreign economic transactions bank Vnesheconombank, under house arrest. He is suspected of embezzling $14 million, a spokeswoman for the court said.

“The court entertained the investigator’s petition to appoint house arrest as a pretrial measure for Ballo,” said Yekaterina Ilyina, the spokeswoman.

Also in the framework of the same case, the court ordered to take to custody Alexander Lagutin, the Director General of Nizhnovatomenergosbyt power engineering company  and Stanislav Svetlitsky, the Director General of Rosgeologiya state company.

All of them are accused of gross embezzlement.